HELO vs PHEQ
JPMorgan Hedged Equity Laddered Overlay ETF vs Parametric Hedged Equity ETF
Which is better, HELO or PHEQ?
PHEQ has been ahead.
PHEQ has a lower expense ratio. PHEQ led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.90. HELO is less concentrated, with 40.1% of the fund in its ten largest positions against 40.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HELO | PHEQ |
|---|---|---|
| Expense Ratio | 0.50% | 0.29%Best |
| AUM | $4.9B | $152M |
| Dividend Yield | 0.57% | 0.82% |
| Holdings | 156 | 374 |
| YTD Return | +4.91% | +9.39%Best |
| 1Y Return | +7.68% | +12.67%Best |
| 3Y Return (annualized) | +11.88% | +14.84%Best |
| Volatility (annualized) | 7.3% | 6.7%Best |
| Max Drawdown | -10.9%Best | -12.6% |
| $10,000 over 3 years | $14,178 | $15,145Best |
| Top 10 Weight | 40.1%Best | 40.8% |
| Fund Family | J.P. Morgan Asset Management | Parametric |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 28, 2023 | Oct 16, 2023 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Oct 19, 2023 to Oct 14, 2026 (3 years).
HELO vs PHEQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3 years both funds cover.
HELO vs PHEQ Performance
JPMorgan Hedged Equity Laddered Overlay ETF (HELO) is an ETF from J.P. Morgan Asset Management and Parametric Hedged Equity ETF (PHEQ) is an ETF from Parametric. Over the past year HELO returned +7.68% while PHEQ returned +12.67%. Year to date, HELO is up 4.91% versus a gain of 9.39% for PHEQ.
Over three years, HELO compounded at +11.88% per year against +14.84% for PHEQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HELO has been the more volatile fund, with annualized monthly volatility of 7.3% compared with 6.7% for PHEQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -10.9% for HELO and -12.6% for PHEQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
HELO charges 0.50% per year while PHEQ charges 0.29%. On a $10,000 position that is $50 vs $29 annually, a gap of $21 per year that compounds over a long holding period. On income, HELO currently yields 0.57% against 0.82% for PHEQ.
Holdings Overlap
62.6% of HELO's money is in holdings PHEQ also owns. 65.0% of PHEQ's money is in holdings HELO also owns.
The two portfolios partly overlap.
50 positions in common, counted across the 146 positions we hold weights for in HELO and 174 in PHEQ, against full books of 156 and 374.
What only one of them owns
Our book lists 114 positions for PHEQ that do not appear in our book for HELO (36.7% of the fund), and 92 for HELO that do not appear in PHEQ (35.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in HELO | Weight in PHEQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.17% | 8.63% | 0.46% |
| AAPLApple Inc | 7.01% | 7.52% | 0.51% |
| MSFTMicrosoft Corp_None_0 | 6.29% | 5.98% | 0.31% |
| AMZNAmazon.Com Inc | 4.26% | 3.93% | 0.33% |
| GOOGLAlphabet Inc-cl A | 3.16% | 3.20% | 0.04% |
| AVGOBroadcom Inc | 2.64% | 2.68% | 0.04% |
| GOOGAlphabet, Inc.- Cl C | 2.26% | 2.69% | 0.43% |
| METAMeta Platforms, Inc. | 2.31% | 2.40% | 0.09% |
| MUMicron Technology, Inc. | 1.70% | 1.94% | 0.24% |
| TSLATesla Mtrs Inc | 1.22% | 1.83% | 0.61% |
65.0% of PHEQ is already inside HELO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HELO or PHEQ?
HELO has an expense ratio of 0.50% while PHEQ charges 0.29%. PHEQ is the cheaper option, by $21 a year on a $10,000 investment.
Which performed better, HELO or PHEQ?
Over the past year HELO returned +7.68% vs +12.67% for PHEQ, so PHEQ leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HELO or PHEQ?
HELO has been the more volatile fund at 7.3% annualized versus 6.7% for PHEQ. Worst drawdown: HELO -10.9% vs PHEQ -12.6%.
Should I hold both HELO and PHEQ?
HELO and PHEQ have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between HELO and PHEQ?
65.0% of PHEQ's money is in holdings HELO also owns. 65.0% of PHEQ's is in holdings HELO also owns. They hold 50 positions in common, counted across the 146 positions we hold weights for in HELO and 174 in PHEQ.
Which pays a higher dividend, HELO or PHEQ?
HELO yields 0.57% while PHEQ yields 0.82%, so PHEQ currently pays the higher dividend yield.
Is PHEQ better than HELO?
PHEQ has a lower expense ratio. PHEQ led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.90. HELO is less concentrated, with 40.1% of the fund in its ten largest positions against 40.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.